Walmart: Further Sell-offs Expected!

Walmart fully reached our now-deactivated and grayed-out Target Zone before experiencing a noticeable downward movement. Thus, we now view the high of the magenta wave (B) as established. Currently, the stock is in the sell-off phase of wave (C), which should initially push price below the support at $97.90 and subsequently guide it into our green Long Target Zone between $80.90 and $69.60. We expect the low of the green wave [4] to form within this range. However, if upward momentum takes the stock directly beyond the resistance at $134.69, we may need to shift to our alternative scenario. In this 36% probable case, the high of the magenta wave alt.(3) would emerge; the green wave alt.[4] would have already been completed in this scenario.